Nigerian bank to aid government in boosting mining sector

Nigerian commercial bank Fidelity Bank Plc has said it would offer funds to number of mining projects that have suffered set backs due to lack of government funding

The bank said it was ready to collaborate with the Ministry of Mines and Steel Development to explore potential opportunities within the Nigerian mining sector and expose the country's solid minerals products to the outside world for patronage.

The minister of mines and steel development, Mohammed Sada, had called on commercial banks recently to come up with programmes that would enhance the professional skills of mineral title holders.

Sada reaffirmed the government’s proactive steps in supporting mining projects through the establishment of the Solid Minerals Development Fund, which, he said, would be used to provide infrastructure for mining sites, improve geosciences data and offer other support services to the industry.

Deputy general manager of Fidelity Bank, Hassan Imam, said, “Fidelity is seeking to collaborate with the ministry towards the growth of the nation’s minerals and metals sector.

“The minerals and metals sector is a major sector of the economy and we do believe that if it is properly harnessed, it will generate a lot of economic activities thereby creating wealth for the nation,” he added.

He disclosed that Fidelity Bank was planning to organise seminars for all stakeholders in the sector on how to access funds from commercial banks for the financing of their mining projects.